Shares of Emmvee Photovoltaic Power Limited surged to a 52-week high of ₹299.50 in early trade on Wednesday, gaining 8.27 per cent or ₹22.51 over Tuesday’s close of ₹272.28, as investors reacted to the company’s robust Q4 and full-year FY26 results published on Tuesday.
By 11.21 am, the stock was trading at ₹294.79 on the NSE, with heavy volumes of 176.41 lakh shares changing hands, translating to a traded value of ₹519.70 crore. The stock has hit its upper circuit band of ₹299.50, with sell-side pressure outweighing buyers — 56.16 per cent of order quantity sitting on the sell side against 43.84 per cent on the buy side. Total market capitalisation stood at ₹20,361 crore.
The rally follows strong annual numbers reported after market close on Tuesday. The Bengaluru-based solar module and cell manufacturer posted revenue from operations of ₹50,499 million for FY26, more than doubling from ₹23,356 million in FY25. EBITDA rose to ₹17,344 million with margins expanding to 34 per cent, while profit after tax jumped to ₹10,816 million — a 193 per cent year-on-year increase. The company ended the year virtually debt-free, with a net debt-to-equity ratio of negative 0.06x.
Operationally, Emmvee commissioned two additional 2.5 GW solar module lines during the year, taking total installed module capacity to 10.3 GW. Cell production utilisation improved to 70 per cent for FY26, up from 43.3 per cent in FY25. The order book more than doubled to 9.4 GW from 4.9 GW a year ago.
The stock, listed in November 2025 at a 52-week low base of ₹171.51, has now returned 55.89 per cent year-to-date against NIFTY 500’s negative 3.85 per cent over the same period.
Published on April 29, 2026